FIRST Bus has taken full control of the private coach company Somerset Passenger Solutions (SPS).
SPS, which started in 2016 as a 50/50 joint venture between First Bus and Somerset-based JJP Holdings (JJPH), manages the contract for the carriage of workers employed at the Hinkley Point C nuclear power plant, near Bridgwater .
The business has grown alongside the increasing amount of work at the site and now employs approximately 450 people, operates a 156 vehicle operation and provides seven-day-a-week shuttle services to and from Hinkley Point C. The company has an annual turnover of approximately £ 37million.
Jonathan Jones-Pratt, managing director of JJPH, won a first contract at the site almost ten years ago with his company Crosville Motor Services, then only operated a handful of minibuses as they went along. start of work.
He said: “To see what has been achieved at Hinkley Point C is remarkable and I am extremely proud that the business I have started has reached new levels through the joint venture with First Bus, and played a key role in allowing many, many workers to come to and from the site in a safe and efficient manner.
He added: “A huge thank you to all of our employees who have worked hard and diligently over the years, to the thousands of passengers who have used our services and to all who have helped bring this remarkable development to Somerset and to bring such a positive contribution. to the community here.
“I think it’s a good time to close a sale and take a step back from the SPS business and hand over the reins to First Bus. I see this as an important milestone that will support the delivery of many benefits to JJPH. This agreement will provide the group with the necessary funds to pursue our broader visions in terms of business development and refocusing the group’s strategic direction.
Joe Thompson, Managing Director of the Portfolio at First Bus, said: “The growth of SPS over the past five years has been extraordinary thanks to the close collaboration between First Bus, JJPH and of course the operations of the Hinkley Point site. vs.
“The operation had a positive impact on the number of cars that would otherwise be on the roads and thus contributed to a reduction in overall carbon emissions and air quality in the region.
“The team has established and developed a first-class operation, playing a vital role in supporting one of the UK’s largest and most complex infrastructure projects where excellence is a prerequisite.
He added: “The purchase of the remaining 50% of the shares of SPS is part of our broader strategy to develop and expand our business-to-business service offering and is an important step. ”
Mr. Thompson said, “We thank Jonathan and the entire team for their energy and drive as partners in our joint venture. We are excited about the future and continue to provide safe, sustainable and efficient transportation for workers at Hinkley Point C. We look forward to leading SPS to further growth and success. ”
Terms of the transaction were not disclosed.